Member Info for ocelot

Hi there, green box, I hope you are well!

Some positive news re Pinarova-1 would be well-timed now..

141.5p for December:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419491

The next set of accounts will look very different from the previous set because of the deconsolidation of GROC.

The funds raised are in the bank, let's see what progress is made now that the dewatering permit has been granted.

Aquis: 15.8m; AIM: 14.8m

Don't remember seeing a price so far down the line before. So Summer 27 is currently marginally higher than August 23:

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419491

The Company expects to commence safety works this week.

Good news!

The Company is also pleased to provide this brief operational update in respect of the Company's Welsh gold projects:

- The dewatering exercise at the Lower Llechfraith workings, the Company's primary gold target within the Clogau-St David's mine system, is proceeding and pumping of the water from the workings is ongoing. The Company expects to commence safety works this week.

- In respect of the Company's Dolgellau Gold Exploration Project, the current advice from Alba's contractors, which will be undertaking the UAV (unmanned aerial vehicle) geophysical survey flights over numerous regional gold exploration targets within the Dolgellau Gold Field, is that due to further delays in the processing of the Company's application by the regulatory authority, the current estimate for the commencement of the flights is now late August or into September.

Restructuring of this debt is obviously necessary and given the shareholder structure has been done with ACL and the company has gone to great lengths to say that it was a competitive process. I like what they are doing on the hedging, who wouldn’t and 90/- therms a day ongoing is good. My only quibble is the timing of the RNS, I mean 4.17 on a Friday….?

The share price needs to treble to approach the £100m market cap they consider necessary to attract institutional interest - still a way to go.

Just realised the red flash news items have gone. Not sure exactly when that happened but it must have been quite recently.

Construction of the permanent flowline from the well is underway, with a target of end August for commissioning. (RNS of 03/07)

The $25m (£20m) global refinance debt facility.

Judgement in the Balcombe hearing.

News of external growth initiative.

Bit of a wet blanket of a result, however.

Some of the green target dates are looking ever more impractical.

"Queues for £1m e-car chargers - but no power" (Sunday Times, p13).

"To install a bank of 16 Tesla superchargers in readiness for this weekend's holiday getaway cost £1m.

But motorists hoping to plug in their electric cars drove off in frustration when they found the chargers had not been connected to the mains power supply, because the grid was not ready to cope with the demand ...

... the power was supposed to be switched on at the start of the month, but will now be delayed until September 9, missing the entire Summer holidays".

If the Tories can paint Labour as the party of inflexible environmentalism, they may be on to a good thing (even if they are not short of nimbies in the shires themselves).

Cabinet minister Michael Gove has called on Prime Minister Rishi Sunak to relax the Conservative Party’s green pledges before the general election as a way to shore up the Tories’ chances against Labour in some key constituencies.

The suggestion by the levelling up and housing secretary follows public backlash to a pending expansion of London’s so-called congestion zone, which helped the Tories narrowly hang onto the seat vacated by former premier Boris Johnson in Thursday’s by-election.

In an interview with the Telegraph, Gove warned against being “inflexible” on net zero measures and making the cause of the environment into a “religious crusade.” He’s the first Cabinet member to suggest easing some green pledges ...

https://www.bloomberg.com/news/articles/2023-07-23/green-pledges-become-election-lightning-rod-for-sunak-and-labour?srnd=premium-europe&sref=Em01M8Hr

'The end is NIGH once again'.

It's like the saying that economists have forecast 5 of the last 2 recessions (or something like that ... and not that I can see what WG818 has posted!).

If the share price is, say, 2p when the warrants are exercised, then, yes, the exercise of the warrants at 1.5p would be dilutive.

So let's wait and see where the share price is at the time of the exercise of the warrants.

Article in the Times: "Revolt over green costs offers Tories hint of way ahead", p9. Ends thus:

"These by-elections have set up a fascinating contest next year. Labour is miles ahead in the polls and is likely to be the next government. But the uneconomic realities of the green revolution, and the pitfalls of the cross-party consensus on this issue, are running into the practicalities of what happens when the people who pay the bills, the voters, come to choose".

Https://drillordrop.com/2023/07/21/council-considers-appeal-over-dunsfold-gas-drilling-decision/

Article in the Times, too: "Revolt over green costs offers Tories hint of way ahead", p9. Ends thus:

"The by-elections have set up a fascinating contest next year. Labour is miles ahead in the polls and is likely to be the next government. But the uneconomic realities of the green revolution, and the pitfalls of the cross-party consensus on this issue, are running into the practicalities of what happens when the people who pay the bills, the voters, come to choose".